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North America

All the latest headlines from NAFTA trading partners: the U.S., Canada and Mexico.

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MEPS Comments on Average North American Carbon Steel Prices

06 October 2004 - MEPS (International) LTD recently commented on profit upgrades reported by a number of major North American steel mills as a result of higher than expected prices obtained in the market. According to MEPS, rising scrap costs over the period have changed market sentiment. As a result, MEPS forecasts for flat products have been lower than actual negotiated figures—a surprise to MEPS but also to most steel producers.

Stelco Adds Three More Facilities to the For-Sale List

06 October 2004 - Stelco Inc. has elected to pursue the sale of wholly owned subsidiaries AltaSteel Ltd. and Norambar Inc., as well as the company's 40% ownership interest in Camrose Pipe Co. Stelco had previously announced its decision to seek buyers for Stelfil, Stelpipe and Stelwire.

EMJ Files IPO Registration Statement

05 October 2004 - Earle M. Jorgensen Co. has filed a registration statement with the Securities and Exchange Commission (SEC) relating to the initial public offering of its common stock. The offering will consist of shares to be offered by Earle M. Jorgensen Co.

Universal Stainless Increases Line of Credit

05 October 2004 - Universal Stainless & Alloy Products, Inc. has increased its revolving credit facility with PNC Bank to $15 million from $6.5 million and extended the term to June 30, 2006. All other terms of the credit facility remain unchanged.

Gerdau AmeriSteel to Install JetBOx Technology on Consteel EAF

05 October 2004 - Gerdau AmeriSteel has awarded a contract to Process Technology International, Inc. (PTI) to install PTI’s patented JetBOx™ system on the 75-ton Consteel AC EAF at the company’s Charlotte, N.C., mill.

Wheeling-Pittsburgh Makes First Heat in New LMF

05 October 2004 - Wheeling-Pittsburgh Steel Corp. announced that its ladle metallurgy furnace (LMF) completed its first heat on Friday, Oct. 1, just 14 months after the project was authorized. The LMF is part of Wheeling-Pittsburgh’s new Consteel(R) Electric Arc Furnace system.

Stelco Reacts to 90-Day Notice by USWA Local 8782

04 October 2004 - USWA Local 8782 has issued 90 days notice of a potential strike at Stelco Inc.'s Lake Erie facility. The notice is required under the June 23rd Agreement between Stelco and its USWA Locals.

Danieli Corporation President Mark Brandon Resigns

01 October 2004 - Danieli Corp. announced the resignation of Chairman and President, Mark Brandon.

SMS Meer Announces New Chairman

01 October 2004 - SMS Demag announced that Dr. Joachim Schönbeck (40) has been named Chairman of SMS Meer GmbH. He assumes the chairmanship from Dr. Helmut Fricke when he retires on January 1, 2005.

Ispat Iscor Commences Routine Blast Furnace Repairs

01 October 2004 - Ispat Iscor recently commenced routine repairs to one of the blast furnaces at its Vanderbijlpark steel mill, which was to idle the vessel for approximately seven days. The company said the repair work was required because blast furnace C had developed a localized hot spot, as a result of damage to a small section of the vessel’s refractory lining.

Talks Back on at Wabush Mines

01 October 2004 - Striking steelworkers will be back at the bargaining table Friday with Wabush Mines in an attempt to reach a settlement for 300 members of Steelworkers Local 6285. The workers have been on strike since July 5.

Carpenter Raises Prices on Stainless Steels and Specialty Alloy Coils

30 September 2004 - Carpenter Technology Corp.’s Specialty Alloys Operations unit is increasing prices for all grades of stainless steel, high temperature and specialty alloy coil products, effective with new orders and shipments as of October 1st.

ITC Finds no Injury from Light-Walled Pipe and Tube

30 September 2004 - The United States International Trade Commission (ITC) has found no real or threatened material injury associated with light-walled rectangular pipe and tube imported from Mexico and Turkey. All six Commissioners voted in the negative.

Oregon Steel Mills Announces Pricing of Common Stock Offering

30 September 2004 - Oregon Steel Mills, Inc. announced the pricing of its public offering of 7,500,000 shares of common stock at a price to the public of $16.00 per share. All shares are being offered by the company.

Ryerson Tull Appoints Two Directors

30 September 2004 - The Ryerson Tull, Inc. Board of Directors announced that it has appointed Russell M. Flaum and Anre Williams to the company's board of directors.

CMC Steel Group Names Executive Vice President of Finance and Administration

30 September 2004 - Commercial Metals Co. announced that Bob Unfried was named as Executive Vice President—Finance and Administration for the CMC Steel Group.

Ipsco Announces Appointment of Treasurer

30 September 2004 - Ipsco Inc. announced the appointment of Patricia Kampling as Treasurer, effective immediately.

Gibraltar Increases 3rd Quarter Earnings Expectations

29 September 2004 - Gibraltar is raising its third-quarter earnings estimate to the range of $.76 to $.79. The anticipated results continue the trend of higher-than-expected levels of business activity and increased market penetration that began during the first quarter of the year.

Dietrich forms Joint Venture with Pacific Steel Construction

29 September 2004 - Dietrich Metal Framing has formed a joint venture with Pacific Steel Construction.

Novamerican Reports Record Quarterly Profit

29 September 2004 - Novamerican Steel Inc. reported net income of $21.6 million* on sales of $201.7 million for the third quarter ended August 28, 2004. This was the 27th consecutive profitable quarter for the company.

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